Foot Locker Q1 Earnings, Sales Rise

Foot Locker Q1 Earnings, Sales Rise
Foot Locker is putting QR codes in stores to send shoppers online.

Foot Locker Inc. delivered again.

For the first quarter ended May 4, the retailer’s net income was $138 million, or 90 cents a share, compared with $128 million, or 83 cents, in the year-ago period. First-quarter sales increased 3.8 percent to $1.6 billion, compared with $1.6 billion in the same period last year.

Excluding the effect of foreign currency fluctuations, total first-quarter sales rose 4.1 percent. Comparable-store sales increased 5.2 percent.

“I am pleased to report that the thoughtful implementation of our strategic priorities continues to deliver record financial and operational results for our shareholders and other stakeholders,” Ken Hicks, chairman and CEO of New York-based Foot Locker, said in a statement. 

The $94 million acquisition of German running retailer Runners Point Warenhandelsges, announced earlier this month, resulted in approximately $1 million in transaction costs. Excluding the expense, first-quarter income was 91 cents per share on a non-GAAP basis.